Malton bacon factory jobs saved in management buyout
A management buyout looks to have secured 1,500 jobs at a meat processing plant in North Yorkshire.
Dutch firm Vion has agreed a deal to sell its UK pork production, including the Malton bacon factory in Norton.
Concerns were raised over its future last month when Vion announced it wanted to offload its entire UK food operation.
Mayor of Norton Di Keal said the deal would come as a relief for the local community.
She added: "It's a very important company for Norton and the surrounding area.
"Obviously it was an anxious time for the employees - now this is some good news for them just in time for the run-up to Christmas."
The buyout of the pork side of the business, which employs 4,000 staff across the country, has been led by Seamus Carr, the managing director of Vion's Pork Business Unit, backed by UK private equity firm Endless.
Mr Carr, who will be managing director of the new company, said: "Vion's decision to sell its UK business naturally caused a degree of uncertainty amongst staff, suppliers and customers.
"Therefore, I'm very pleased that we have quickly been able to agree a deal for the pork business which secures the future for our staff, our suppliers and gives our customers a seamless transition."
John Gorle, of the Usdaw union, said "Whilst we welcome the news, we will be seeking an urgent meeting with the new owners in order that we can fully understand the short to medium-term business strategy."
Vion's other UK pork facilities are located in Wiveliscombe, Haverhill, Scunthorpe, Hull, Stoke and Enfield in England, at Brydock, near Turriff in Scotland, and at Cookstown in Northern Ireland.